Financial Accounting Standards Board

News about Financial Accounting Standards Board, including commentary and archival articles published in The New York Times.

Chronology of Coverage

Jun. 27, 2013

Financial Accounting Standards Board will propose new rules for insurance accounting that will expand number of companies that are considered insurers; regulations seem likely to increase volatility in reported profits for many insurers and lower reported revenue for rapidly growing companies. MORE

Jun. 10, 2013

American Institute of Certified Public Accountants plans to announce creation of 'framework' that will simplify accounting for small companies that will differ from 'generally accepted accounting principles;' Financial Accounting Standards Board also plans to propose its first exceptions for private companies. MORE

May. 16, 2013

Proposed changes on reporting leases, backed by the International Accounting Standards Board and the Financial Accounting Standards Board of the United States, are unlikely to satisfy many corporations. MORE

Apr. 24, 2013

Russell G Golden is named the chairman of the Financial Accounting Standards Board; succeeds Leslie F Seidman. MORE

Feb. 15, 2013

Financial Accounting Standards Board proposes to substantially reduce the use of market values in financial statements; move, if adopted, would give banks more freedom to value financial assets as they deem appropriate. MORE

Dec. 21, 2012

Financial Accounting Standards Board proposes new accounting rule that would often force banks to take loan write-downs well before loans actually go bad; rules, stricter than those proposed by international bodies, are unlikely to take effect for several years. MORE

Jul. 20, 2012

Floyd Norris High & Low Finance column observes meeting of the Financial Accounting Standards Board and the International Accounting Standards Board reveals the divisions between the two that prevent agreement on a single set of worldwide rules; points out they disagree over how banks should account for loans that may be going bad. MORE

Proposed changes on reporting leases, backed by the International Accounting Standards Board and the Financial Accounting Standards Board of the United States, are unlikely to satisfy many corporations.